February 2022 Update on Senior Housing and Census Operations

Who knew when we first heard of COVID-19, that 2 years later it would still be part of our daily lives. We appreciate all of you who have been on the front lines these many months, working to care for our seniors. The latest information on Senior Housing census and revenue trends show that February census experienced a slight drop, but while it was still up over 8% from February of 2021, census could have experienced a greater decline if not for the reduction in move-outs. Cash receipts showed a slight month over month loss, while still posting year over year gains of more than 14%. Lead volume in 2022 is 14%-15% behind the first two months of 2021, and the time to convert leads to move-ins has increased by two weeks since January, taking almost 18% longer than during the same period in 2021. February tours increased slightly over December and January, with close to 28% more tours than in February 2021, but lead volume and move-ins will need to pick up for this trend to continue. While room, assessment and service fee revenues are up from 2021 and monthly fees continue to slowly grow, attention should be given to the continuing drop in inquiry and marketing activity, which could affect future census and revenues.

February 2022 Senior Housing Census and Operations Update Text Graphic
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